Overland AI, a Seattle-based startup developing autonomous driving technology for rugged terrain, has secured $100m in new funding to expand its operations with end users across the US Armed Forces.
The financing round was led by 8VC and included returning investors Point72 Ventures, Shasta Ventures, Ascend Venture Capital, and Overmatch Ventures.
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New investors in the round were Valor Equity Partners and StepStone Group, along with other institutional backers.
TriplePoint Capital provided a $20m venture debt facility as part of the total sum raised.
The latest investment will allow Overland AI to address increased demand for ULTRA, its autonomous ground vehicle, as military units adopt ground autonomy technology.
Overland AI is currently collaborating with groups within the US Army, Marine Corps, and Special Operations Command, including the 82nd Airborne Division, 1st Cavalry Division, 173rd Airborne Brigade, 36th Engineer Brigade, and 2nd Marine Logistics Group.
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By GlobalDataRecently, the company established a partnership with the California Department of Forestry and Fire Protection (CAL FIRE) to support wildfire mitigation and suppression efforts.
The company, which was founded in 2022, has developed autonomy capabilities designed to operate in complex off-road and GPS-denied environments at speeds suitable for tactical operations.
Overland AI co-founder and president Stephanie Bonk said: “Demand for ground autonomy has moved decisively from experimentation to operational integration. This funding allows us to scale alongside the units adopting our technology.
“We are training warfighters directly and incorporating continuous feedback to ensure our systems perform in real-world conditions, while building the trust required for operational use.”
Overland AI’s ground autonomy for armed forces, allows a single operator to manage multiple robotic systems at the same time over difficult terrain.
Last November, the company concluded the DARPA RACER programme after three years of testing and iterating its platform’s autonomy features.
Since then, it has broadened its scope of operation to support missions such as counter-uncrewed aircraft systems (UAS), intelligence, surveillance and reconnaissance (ISR), contested logistics and resupply, and breaching tasks.
In October last year, AimLock entered into a partnership with Overland AI to integrate its autonomous targeting and engagement systems into the latter’s uncrewed ground vehicles for military operations.
